Wire transfer charges??

  1. Can anyone help shed some light on this mystery?

    I purchased a bag on eBay, and have paid using a wire transfer (after some discussion with the seller). I am in NZ and the seller is in US.

    I sent USD 539.99 and was charged a transaction fee by my bank. The seller received USD 517.49 and was charged a transaction fee by her bank. Both our banks insisted they did not take any further charges!!!

    We have no idea where the USD 22.50 went. :shrugs:

    Granted, it's not a huge issue, and the seller has not demanded the missing USD 22.50. But it is very annoying that one of our banks has pocketed the money and refused to own up. As it is a round-ish number (I paid in NZ dollars, so if it was my bank, I would assume the amount would be in some odd number due to the conversion rate), I think it must have happened at her bank (East West Bank).

    If you can shed some light on this, it will be very much appreciated.
  2. My bank always takes out something like $20.00 when I receive a incoming wire.
  3. when i wired something, my bank always asked, so i want the receiver to have them in full value?
    if in full value, then i pay the bank fee, it's like 20$
  4. My bank charges me for receiving money from international wire transfers, but not US. It's about 20 or so.
  5. Thanks everyone!!! It's all very much appreciated!

    I've passed on your comments, and hopefully that's what it is. It's annoying that the bank wasn't upfront with the charges.
  6. when you do wire transfer, you'll connect with your bank, middle bank ( bank correspondence ) and receiver's bank. Nah, middle bank will reduce the amount that you sent your seller then after she receive money ( if she's outside USA ), her bank will use different currency converter ( almost lower than normally converter ) to convert US$ to local currency.
  7. I agree- there is a "clearing house" bank that is a middle man. Could be possible the funds went to them- but my bank always charges me at least $20 to send a wire no matter if it is inside the US or out and they also charge me to receive money. You should have been told if it was your bank, she might not have known hers does this. Sounds like it was a US bank if the funds equaled exactly USD 22.50, definitely.
    Maybe the seller will be cool and won't ask for that amount from you. They should be cool with it and able to eat that small amount compared to it being such a large purchase. Be sure to tell us all whatcha bought, either way. And congrats on getting something new! :yahoo: